The real economy is the consumer confidence measures. If people stop purchasing stuff like cars, houses and clothes then we are going to head into recession. If you look at the numbers we have had 2 straight months of decline. We are on the verge of a recession. The chaos that is Trump is bad for consumers because it is instability in the form of tariffs, government spending, which impacts individuals and businesses. The crap that is happening now is just straight up anarchy. Consumers will not purchase homes or cars if they think that they might lose their jobs. That means that home sales, auto sales, etc., will slump or altogether plummet which will lead to layoffs and an increase in bankruptcy filings to protect homes and autos. Trump is not a good business man and the people that elected him are going to struggle financially when it hits the fan.
/PRNewswire/ -- The Conference Board Consumer Confidence Index® declined by 5.4 points in January to 104.1 (1985=100). December's reading was revised up by 4.8...
www.prnewswire.com
Doesn't help that Trump is alienating allies too. Why should Canada sell to America if they can sell to someone else who will gladly take the product without issue?
There's a story about Elon musk that perfectly captures how rich people behave in this country.
He was playing poker with a bunch of people. He didn't really know how to play because the rules of poker are only one aspect of the game. After you've mastered the rules, it boils down to being able to read the body language of your opponents and take calculated risks. Musk was preoccupied with winning so he just kept going all in. He would lose money, then play again. He kept going until eventually he won by going all in at the right time. Purely through chance, he won.
Rich people can keep trying over and over again until they get a result. What you then hear is the stories of their success instead of their numerous failures. Failures which their wealth insulated them from truly feeling.
They are now playing a game with your money. Your tax money. They will continue to do this dumb shyt over and over again until it eventually works. They are the most dangerous combination: Stupid and arrogant. They'll tank the economy and they will be affected since their wealth is essentially loans where stock in their company is used as collateral. If through their stupid actions they cause a recession or worse, it will trigger sell offs as people try to cash out their 401ks and mutual funds to pay for their mortgages and other expenses. AI is going to super charge this because someone who's a tech worker that gets laid off will need some form of income while looking for a new job. In the mean time they'll sell their stock to get some cash and use that to survive.
People are about to find out for real that guys like musk and trump are in fact, just idiots who have enough money to keep making stupid decisions without consequences....until the consequences of their stupid decisions start affecting them personally. Trump escaped bankruptcy by licensing out his "brand" with the trump name. Now however, that brand is in the toilet so when he's in a situation where he needs cash, he's got absolutely nothing he can leverage other than the stupidity of his fans, but if his fans don't have enough money to give him because of his dumbass economic policies, then what?
www.nytimes.com
